Brc-202

• The inspiration for brc-202 comes from the brc-20 protocol. Thanks to the brc-20 development team for their contributions to the Bitcoin ecosystem. Respect!

• brc-202 will inherit the syntax and all operation types of brc20

• brc-202 will be first applied in practice on the BTC Beta IDO platform.

As mentioned above, brc-202 is an upgrade and experiment based on the brc-20. Therefore, if you want to understand the design principles of brc-202 more comprehensively, please start by learning about brc-202. For more information, refer to the following link:

What are BRC-20 tokens on Bitcoin?

Problems we want to solve

• Lack of IDO platform focusing on Bitcoin ecology

  Despite the vastness of the Bitcoin ecosystem, the lack of a dedicated initial coin offering (IDO) platform limits the growth and capital liquidity of innovative projects on the Bitcoin network. Most IDO platforms focus on Ethereum and its derivative chains, making it difficult for early-stage projects in the Bitcoin ecosystem to conduct effective financing and token issuance.

• Difficulties in BRC20 token issuance and financing

  While the BRC20 token standard provides projects on the Bitcoin network with the ability to create their own tokens, the zero-fee inscription process (other than gas fees) does not support a direct, decentralized method of raising funds. This limits the project team's ability to raise funds and affects the flexibility and efficiency of the project's launch.

Design Principles of brc-202

• Introducing the new concept of paid engraving

  On the basis of the brc-20 token standard, project teams can issue tokens through paid engraving, providing a flexible and economical financing path.

• Establishing a set of decentralized financing and issuance standards

  Utilizing the design concepts of decentralized mechanisms and smart contracts, the protocol standards formulated by brc-202 can ensure fair and transparent financing and automate token distribution, improving the efficiency and security of capital flow.

Operations

Just like the original intent behind brc-20, brc-202 represents an intriguing experiment in standardization built upon the foundation of brc-20. We warmly welcome anyone to contribute improvements to the design and rules of brc-202.

To ensure traceability, the use of JSON {} is required, along with the minimum information necessary for any one of its functions.

DeployToken

{
	"p": "brc-202",
	"op": "DeployToken",
	"tick": "ordi",
	"amt": "21000000",
	"to": " ",  
	},
}

Key	Required?	Description
p	Yes	Protocol: Helps other systems identify and process brc-202 events
op	Yes	Operation: Type of event (DeployToken , BatchTransfer, DepolyIDO, DeclareIDO, ApproveIDO, Brun)
tick	Yes	Ticker: 4 letter identifier of the brc-202
amt	Yes	Send this number of tokens to the designated account at one time
to	No	The default is the calling address. You can also set any other addresses.

BatchTransfer

{
"p": "brc-202",
"op": "BatchTransfer",
"tick": "ordi",
"content": {
"address1": "amount1",
"address2": "amount2",
"address3": "amount3",
"address4": "amount4"
	},
}

Key	Required?	Description
p	Yes	Protocol: Helps other systems identify and process brc-202 events
op	Yes	Operation: Type of event (DeployToken , BatchTransfer, DepolyIDO, DeclareIDO, ApproveIDO, Brun)
tick	Yes	Ticker: 4 letter identifier of the brc-202
content	Yes	The receiving address and the amount of tokens for each transaction.

DepolyIDO

{
	"p": "brc-202",
	"op": "DepolyIDO",
	"tick": "ordi",
	"content": {
		"price": "0.000001",
		"max": "10000",
		"totalToken": "1000000",
		"notary": "address",
		"end": "the end block",
		},
	}

Key	Required?	Description
p	Yes	Protocol: Helps other systems identify and process brc-202 events
op	Yes	Operation: Type of event (DeployToken , BatchTransfer, DepolyIDO, DeclareIDO, ApproveIDO, Brun)
tick	Yes	Ticker: 4 letter identifier of the brc-202
content	Yes	“max” is the upper limit for per subscription ”totalToken” is the maximum supply of IDO - Need to verify whether the balance of the initial deployment token is greater than totalToken - ”totalToken” will be recorded to the notary address, which is equivalent to transferring the inscription to the notary address. ”notary” is the notary address, which is used to receive the IDO funds. It is recommended to use a multi-signature wallet or an address managed by BTC Beta. - The notary address is the unique identifier of the IDO, and each notary address can only be used once. “end”is the end block of IDO this time,subscription cannot be made after the time of the end block .

DeclareIDO

{
	"p": "brc-202",
	"op": "DeclareIDO",
	"tick": "ordi",
	"content": {
		"amt": "10",
		"totalBTC": "0.00001",
		"to": "the notary address"
		},
	}

Key	Required?	Description
p	Yes	Protocol: Helps other systems identify and process brc-202 events
op	Yes	Operation: Type of event (DeployToken , BatchTransfer, DepolyIDO, DeclareIDO, ApproveIDO, Brun)
tick	Yes	Ticker: 4 letter identifier of the brc-202
content	Yes	It is required that the amount of Bitcoins transferred when calling this method is consistent with the totalBTC amount in the content, and the Bitcoin payment address is notary address.

ApproveIDO

{
	"p": "brc-202",
	"op": "ApproveIDO",
	"tick": "ordi",
	"content": {
		"amt": "10",
		"totalBTC": "0.00001",
		"to": "the notary address"
		},
}

Key	Required?	Description
p	Yes	Protocol: Helps other systems identify and process brc-202 events
op	Yes	Operation: Type of event (DeployToken , BatchTransfer, DepolyIDO, DeclareIDO, ApproveIDO, Brun)
tick	Yes	Ticker: 4 letter identifier of the brc-202
content	Yes	Only if this content is consistent with the content of DeclareIDO function will the IDO be approved.

Burn

{
"p": "brc-202",
"op": "burn",
"tick": "ordi",
"amt": "100",
}

Key	Required?	Description
p	Yes	Protocol: Helps other systems identify and process brc-202 events
op	Yes	Operation: Type of event (DeployToken , BatchTransfer, DepolyIDO, DeclareIDO, ApproveIDO, Brun)
tick	Yes	Ticker: 4 letter identifier of the brc-202
amt	Yes	Amount of tokens to be burned